Gathering and analysing relevant information for a business plan, formulating an ethical framework for operational plans in a new venture, establishing and prioritising business, financial, and/or operational goals and objectives, and designing and presenting comprehensive business, financial, and/or marketing plans based on a budget are integral steps in the strategic planning process for a new business venture.
This unit standard aims to equip learners with the necessary knowledge and skills to produce business, financial and operations plans for implementing a new venture. It will also address the economic and administrative issues that prevent starting a new venture and contribute to the inability of an entrepreneur to sustain a new venture. The qualifying learner will be able to identify, gather and analyse the relevant information needed to compile a business plan. Formulate an ethical framework for the operational plans of a new venture. Establish and prioritise business, financial and operational goals and objectives for a new venture. Design and present business, financial and marketing plans based on a budget for a new venture.
Course Content
- The purpose and importance of a business plan is discussed in terms of its contribution to a successful business.
- The different elements of a successful business plan are listed and described with examples.
- Information on the resources needed and procedures to be followed to achieve the plan is compiled.
- The industry-specific and legal requirements for own venture are identified and explained in terms of how they will affect the venture
- Legislation and relevant regulations relating to the type of venture are identified for use in drawing up a code of ethics for the business.
- Non-statutory regulations applicable to the sector are identified and used for use in drawing up a code of ethics for the business.
- Codes of conduct that are used by similar organisations in the sector are evaluated and elements identified for inclusion in an ethical framework for the business.
- Social and ethnic considerations are identified for inclusion in the ethical framework of a new venture.
- Personal values are identified for modifying an ethical framework for a new venture.
- An ethical framework and codes of ethics and conduct are drawn up for the new venture.
- Personal objectives are clearly articulated and aligned to the plans of own venture.
- Business objectives are analysed and specific goals formulated to achieve objectives set out for own business.
- A vision statement of a new venture is compiled to represent goals and objectives set for own venture.
- Specific short and long term goals are formulated allowing flexibility for possible changing circumstances.
- Possible contribution to community and regional growth objectives are identified and considered.
- Cultural values and beliefs of prospective employees and expected consumers are incorporated into the plans of own venture.
- The business of the venture is introduced and described based on research and analyses of competitors.
- Structure and layout of the business plan are designed to be compatible with the nature of own venture.
- Marketing and promotion of the own venture are concisely presented in the business plan.
- Finance requirements for the business are stated in the business plan.
- The projected income and expense items for own venture are tabulated in the business plan.
- The costs, risks, and proposed infrastructure of the operations plan are presented in the business plan of own venture.
- Relevant documentation is compiled to support the business plan.
- Business plan information is presented in a relevant and clear format.
- Procedures to present the business plan for own venture to a financier are explained.
- Non-accredited: Short course only
- Duration: 1h 30m
- Delivery: Classroom/Online/Blended
- Access Period: 12 Months
